Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made several notable portfolio adjustments on Wednesday, October 1, according to daily fund disclosures. The ace hedge fund manager made a notable purchase of DraftKings (DKNG) shares, while continuing to build positions in Chinese stocks Alibaba (BABA) and Baidu (BIDU). Meanwhile, Wood sold a significant number of shares of multi-club sports owner Brera Holdings (BREA).
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Wood Buys DKNG and Chinese Stocks
The most significant trade, in terms of value, made on Wednesday was the purchase of 511,049 shares of online betting and gaming platform DraftKings, with a total value of $19.1 million. Specifically, the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF) bought 350,315, 103,872, and 56,862 shares, respectively, of DKNG.
Meanwhile, the ARKK ETF bought 30,137 shares of Chinese e-commerce and cloud computing giant Alibaba, valued at $5.4 million. Additionally, ARKK purchased 21,648 shares of internet giant Baidu, valued at $2.85 million.
Other purchases included 88,236 shares of autonomous driving technology provider Kodiak AI (KDK) by the ARK Autonomous Technology & Robotics ETF (ARKQ) and 46,353 shares of cloud-native data security company Rubrik (RBRK) by the ARKW ETF.
Using TipRanks’ Stock Comparison Tool, we see that among the purchases made on Wednesday, DraftKings, Alibaba, and Rubrik score Wall Street’s Strong Buy consensus rating.
Wood Offloads BREA Stock and More
The ARKK ETF sold 100,983 Brera Holdings shares, worth $3.0 million. Other stocks sold on Wednesday included 25,536 shares of Kratos Defense and Security Solutions (KTOS) for $2.3 million by the ARKQ ETF and 18,440 shares of Shopify (SHOP), valued at $2.7 million, by the ARKF ETF.
Meanwhile, ARKW ETF sold 37,148 shares of Roblox (RBLX), valued at $5.1 million, and 36,697 shares of Roku (ROKU), worth $3.7 million.
Among the stocks sold on Wednesday, Kratos stock scores Wall Street’s Strong Buy consensus rating.
